[robk1982]

http://www.mlive.com/flintjournal/in...nt_move_h.html

HealthPlus says it won't move headquarters from Flint Township to downtown Flint after all
by Joe Lawlor | The Flint Journal
Wednesday December 10, 2008, 4:40 PM


FLINT, Michigan -- HealthPlus of Michigan won't be moving from Flint Township to downtown Flint after all.

David Crosby, chief executive officer of HealthPlus, had said in September that the insurance company was mulling the move, and one of the sites under consideration would be the surface parking lot on South Saginaw Street just south of the University of Michigan-Flint pavilion.

In a written statement released Wednesday, Crosby said the move is "not feasible at this time." He also left the door open for a later move to downtown.

With 400 employees, HealthPlus would have been a major boon to downtown. But the move also would have left a high-profile vacant building in neighboring Flint Township.

"While HealthPlus remains financially solid due to its conservative approach to operations and investments, such a major commitment would be less than prudent in today's uncertain economic environment.

As conditions improve, we may again consider a similar project," wrote Crosby, who declined to be interviewed.

Downtown Flint has seen a major influx in new investment recently, including the addition of the Wade Trim building, Community Foundation of Greater Flint and Rowe Engineering.

Crosby had previously said one of the sticking points was being able to sell the HealthPlus Flint Township building on South Linden Road at a reasonable price. The mortgage crisis has depressed the values of many buildings.

Tracey Tucker, Flint Township's economic enhancement, said she's met with HealthPlus leaders a few times, concerned that they would leave the township. She said HealthPlus was not aware of all the tax breaks they could receive for being a non-profit organization.

"We're glad that they're staying," Tucker said.

Phil Shaltz of Uptown Developments, which has spearheaded downtown development, said while the HealthPlus news was unfortunate, there's still a lot of new businesses coming to downtown.

He said he expects there will be two new restaurant announcements in the near future, and there's also interest in more companies locating downtown.

"Obviously, we have to respect HealthPlus' position in the economic times that we're in," Shaltz said. "They or someone else will be back when the debt market stabilizes."

Shaltz said he believes HealthPlus wanted to move to downtown, and it's encouraging that it was only the weak economy that stopped the move.

Councilman Jim Ananich said he was excited about the possibility of HealthPlus being in downtown.

"It's too bad," Ananich said. "The council and the mayor have been working to make the business climate better for downtown. Maybe when the economy picks up again they'll be back."